Securities issued for the medium and long term in EUR by the Treasury in successive tranches, forming a single line whose securities are fungible. They can be issued by auction based on the prices bid, or by syndication (when issuing the first tranche of a new line). They are invested by primary and recognized dealers. Linear bonds are primarily intended for professional investors, but private individuals can also purchase them on the secondary market.
Local authorities' debt
The debt of the Regions and Communities, provinces, municipalities, inter-municipal public utility companies and various institutions including Public Social Assistance Centres, church administrations, etc.
Debt issued with a maturity of more than one year, whereby the proceeds from the issues are transferred to the Budget of Ways and Means. The repayment of the capital is borne by the general expenditure budget (public debt section).